500,000 earned at 100,000 shares a year.
You got that wrong, it was 500,000 total but 125,000 exercisable on first anniversary and the rest in 36 equal monthly installments (10,417/month). At an exercise price of 28.15 and with yesterday's close of 31.42 the guy's already made a potential 1.5M in a week.
Wow, that's more than the real producers of society, those on the front-line, will make in a life time (salary+benefits). Those poor "grunts" in the company only get options on 40 shares a year.
So the board really thinks this guy is worth as much as 3,125 front-line workers. Goes to show you what they know. I wonder what would hurt the company more, 3,125 front-line workers not showing up for work on Monday or one VP dropping dead on the golf course.
It's no wonder the pig keeps rolling the mud. Option exercise prices should be set so that there has to be an appreciable stock price increase before there is a benefit to the grantee, i.e. in this case the exercise price should have been set at $40 instead of $28.15.
It's because of brilliant decisions like this that I always vote against any board member up for re-election...not that my .0005% of the vote is going to mean much. But it's my protest.
Robin |
